Manage episode 280976551 series 2342628
Today Kevin is joined by yet another one of many success stories from the Progressive Property training programme. Kurt left his life in Dubai to start a property venture in the UK with no property training, now just a year later he tells his story of how he became a successful property investor following the rent to rent strategy. Kevin and Kurt discuss the benefits of a JV partnership, how to network and why knowledge is power.
- When starting your property venture alone it is important to create your power team. Go to different property networking events around the country where you can get to know people. Use social media to find people with similar property interests to yourself and you may find somebody to work alongside.
- When meeting potential JV partners, share your weaknesses and your strengths and find somebody who compliments you. Work out strategies when you go into meetings according to both of your strengths and weaknesses.
- Working alongside others who are already in the property industry can help you increase your knowledge. You will learn from others how to acquire new properties or tenants and you can apply this knowledge for when you go to make a deal.
- Many people wonder why a landlord would allow somebody to take their property on and rent it out to make a large profit. Many landlords want to relax and have others do the work for them so long as they are making a profit they are happy. The landlord doesn’t need to pay utility bills, council tax or refurb bills as that will all be taken care of meaning his workload is less as he likely has multiple properties.
- Rent to rent is a great technique to create cash flow, but you never will build a long term legacy by doing only this. Comercial conversion is future money, it may be three or four years before you even get paid. Putting these two techniques is very smart as it allows you to create cash flow, whilst investing in something that will bring you future income as well as a long term business legacy.
“We can work together and we might be faster at completing all the tasks to get a house. Our main focus was just to get our first house.”
“That is how we work together, we are a good combination and a good team.”
“I didn’t believe this story when I heard it from you the first time”
About The Guest
Kurt is a Swiss National who moved to Dubai for several years. He made a decision last year to move to the UK and start a property business having never done property before.
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ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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